Carphone Warehouse Ireland returns to profit
The Carphone Warehouse has made a profit in Ireland for the first time in over five years as revenues rose 13pc to €120m.
The retailer, which now has 119 outlets across the country after its merger with Dixons, recorded a pre-tax profit of €2.1m in 2014. This followed losses of €10m in 2013 and €9m in 2012.
The news comes as the retailer prepares to invest €30m on a new mobile phone operation in Ireland to be launched this summer.
The service, which the company says will create 50 full-time jobs, will use the 4G mobile network built by Three Ireland, following its merger with O2 Ireland. It will also result in the construction of a new €6m data centre.
The company's managing director for Ireland, Peter Scott, said that the turnaround was partly down to new commercial and retail partnerships entered into with Sky, UPC, Harvey Norman and Clerys
"The 2014 performance is a sizeable turnaround for our Irish operations and provides the basis for fresh investment from the group in Ireland," Mr Scott said.
"We now must stay focused on our competitiveness, particularly when it comes to fundamentals like retail rental agreements."
He said that the Irish operation's revival was crucial in persuading the UK headquarters to fund a new mobile phone operator service.
"The turnaround in our overall performance in Ireland gave us the basis to go to the Group to make the case for investing in a new mobile phone operation," he said.
"In just five months, we will launch a highly innovative, next-generation service that is currently not available in today's mobile market.
"This will see Ireland as a hub for the group's European-wide mobile developments."